Connected Car Devices Market Breaking News – Microsoft launches a new cloud platform for connected cars
The global connected car device market is poised to record a CAGR of 16% during the forecast period, 2016 to 2021.
Connected car devices essentially assist in monitoring vehicles and drivers. The devices also keep private automobile owners, as well as fleet managers are updated about their vehicle’s performance on the fuel economy index, emissions, on-board diagnostics (OBD), vehicle maintenance, and recalls. Some devices also provide GPS tracking and real-time alerts.
Connected car devices vary in the degrees of complexity and capability, ranging from the earliest in-built systems to the more recent versions which can simply be plugged into the vehicle via the OBD II port.
The major factors that are driving the market, are increasing incidence of vehicle theft and a robust spike in the number of road accidents, particularly due to unsafe driving habits, like over-speeding, hard cornering, and unmanageably dense traffic, among many others. For instance, as per the INTERPOL, December 2015 witnessed a total of 7.4 million stolen motor vehicle records. Additionally, Advanced Driving Assistance Systems (ADAS) technologies are becoming mature in their ‘Intelligence’ abilities to monitor driver behavior, anticipate potential threatening situations, and accordingly intimate the driver or initiate appropriate vehicular response. Additionally, private owners are becoming ever more conscious about the fuel efficiency and performance of their vehicles.
Apart from the aforementioned drivers, vehicle connectivity has also gained traction, due to the preference of in-car Wi-Fi hotspots and data services providing infotainment facilities.
One of the chief restraints for the connected car devices to attain mass market adoption is the vulnerability of connected vehicles to car hacks and data manipulation to remotely disable or corrupt vehicular electronics and other critical software, or worse, manipulate its maneuvers which may end in an accident. By using a car’s computer system, internet, and taking advantage of the interconnected vehicle data infrastructure, researchers have been able to demonstrate remote hacking of ADAS-equipped cars. Recently, Tesla Model S had its brakes, door locks, computer dashboard screen, and other electronically controlled features successfully tampered with by hackers from a distance of twelve miles.
Despite the growing concern for cyber vulnerabilities, the global automotive market is steadily transitioning toward the autonomous era. Recent business collaborations and joint ventures among auto giants, cyber security providers, chip makers and system integrators, clearly signal the inevitable advent of highly (Level 4) and fully (Level 5) autonomous vehicles, earliest by 2020. The vehicle connectivity is expected to become indispensable in the future, for proper communication among vehicles for ‘decision-making’, proper assimilation and comprehension of visual, geographical, audio, and other data. This is required for real-time updating of dynamic traffic environments within the vehicle’s A.I. systems.
Therefore, vehicle automation presents the most lucrative market opportunity for connected car devices, which provide the necessary (initial) inter- and intra-vehicle communication and response infrastructure to facilitate autonomous capabilities. From January 2010 to July 2017, there were a total of 5,839 patent filings related to autonomous driving technology. Out of these, Bosch led the pack with 958 patents, followed by Audi which had bagged 516 of them. The list extends further, and includes major auto makers, tier 1s, and Original Equipment Manufacturers (OEMs).
The connected car devices market is highly competitive, with new products sold in the market now and then. Telus recently came out with its in-car data device, Drive+. It can be plugged into the vehicle via the OBD II port, and is expected to provide on-board diagnostics, location tracking, and safety notifications via an accompanying iOS or Android app.
Major market players include Continental AG, Robert Bosch GmbH, Denso Corporation, Delphi Automotive, and Autoliv, among others.
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To know the effectiveness of IBM’s cyber security solutions in dealing with auto hack threats. To know whether the United States will be able take the lead in the connected car devices market. To know about the most vulnerable access point of a car. What Report Offers:
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